Portland Grain Review 11/01

November 1, 2022 Portland Price Trends 11-01-21 01-01-22 10-01-22 10-25-22 11-01-22 #1 SWW (bu) 10.60 10.70 9.30 8.75 9.10 White Club 12.60 12.45 9.80 9.25 9.60 DNS 14% 11.72 10.78 10.56 10.32 10.65 HRW 11.5% 9.60 9.81 11.09 10.54 11.04 #2 Corn (ton) 258.00 274.00 303.00 310.00 309.00 #2 Barley 240.00 240.00 240.00 240.00 250.00 Wheat...The early-week surge across the futures complex was apparent for west coast wheat prices, especially for hard red winter and spring wheats where basis levels held firm. White wheat cash prices were also firmly higher, but basis to Chicago did weaken about 40 cents from late last week, with a modest carry reflected in exporter bid structure. Shipments...Weekly export inspections showed a markedly slower pace of export loadings for U.S. wheat last week, coming in at only 5 mb for all classes. Year-to-date shipments of 354 mb stand on par with a year ago. West coast port activity showed exporter focus was on the shipment of soybeans, with China taking on 37 mb. Crop Progress...The first official fall assessment of the PNW winter wheat crop showed a big improvement over year-ago conditions. Good to excellent ratings for Idaho starting at 53% compared to 41% a year ago, Oregon setting at 76% compared to 13% a year ago and Washington at 63% compared to 33%. Recent moisture has been beneficial, with the region entering several more weeks of cooler, wet weather. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.